Argent Trust Co boosted its stake in Abbott Laboratories (NYSE:ABT) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,153 shares of the healthcare product maker’s stock after buying an additional 6,396 shares during the period. Abbott Laboratories accounts for approximately 1.2% of Argent Trust Co’s portfolio, making the stock its 17th largest position. Argent Trust Co’s holdings in Abbott Laboratories were worth $16,676,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Inspire Advisors LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth about $29,000. Krane Funds Advisors LLC purchased a new stake in Abbott Laboratories in the fourth quarter worth about $39,000. Wealthcare Capital Management LLC purchased a new stake in Abbott Laboratories in the first quarter worth about $42,000. Selective Wealth Management Inc. lifted its holdings in Abbott Laboratories by 368.4% in the first quarter. Selective Wealth Management Inc. now owns 445 shares of the healthcare product maker’s stock worth $53,000 after buying an additional 350 shares during the period. Finally, Sittner & Nelson LLC bought a new position in shares of Abbott Laboratories during the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 73.03% of the company’s stock.
ABT has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Abbott Laboratories from $137.00 to $125.00 and set an “overweight” rating for the company in a research note on Wednesday, June 2nd. Credit Suisse Group decreased their target price on shares of Abbott Laboratories from $133.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, June 2nd. BTIG Research decreased their target price on shares of Abbott Laboratories from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, June 2nd. Citigroup reissued a “buy” rating and set a $125.00 price target (down previously from $138.00) on shares of Abbott Laboratories in a research report on Wednesday, June 2nd. Finally, William Blair reissued an “outperform” rating on shares of Abbott Laboratories in a research report on Tuesday, April 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $122.00.
Shares of ABT traded down $0.29 during trading hours on Friday, reaching $109.86. 204,094 shares of the stock traded hands, compared to its average volume of 5,708,611. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.32 and a current ratio of 1.75. Abbott Laboratories has a 52-week low of $86.16 and a 52-week high of $128.54. The company’s 50-day simple moving average is $117.83. The company has a market capitalization of $195.20 billion, a P/E ratio of 34.53, a P/E/G ratio of 1.92 and a beta of 0.69.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Abbott Laboratories had a net margin of 15.33% and a return on equity of 24.02%. The company had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.72 billion. During the same quarter in the previous year, the company earned $0.65 EPS. Abbott Laboratories’s revenue for the quarter was up 35.2% on a year-over-year basis. Equities research analysts expect that Abbott Laboratories will post 4.35 earnings per share for the current fiscal year.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, MÃ©niÃ¨re's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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